M/S.Sree Vinayaga Cashews v. The Branch Head
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 22.04.2024 CORAM :
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE J.SATHYA NARAYANA PRASAD 1.M/s.Sree Vinayaga Cashews, rep. by its Sole Proprietor R.Ramasamy, Melmampattu Panruti, Cuddalore-607 103.
2.M/s.Naveen Cashews, rep. by its Guarantor R.Ramasamy, Melmampattu Panruti, Cuddalore-607 103.
3.M/s.Naviya Cashews, rep. by its Guarantor R.Ramasamy, 15/31, Police Line, 3rd Street, Panruti, Cuddalore-607 103.
4.M/s.Sree Sowmiya Cashews, rep. by its Guarantor R.Ramasamy, A3, Mariamman Koil Street, Semmedu Post, Panruti, Cuddalore-607 103.
.. Petitioners Vs
The Branch Head, Central Bank of India, Panruti Branch, 610, Cuddalore Main Road, Panruti, Cuddalore-607 106.
.. Respondent Prayer : Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of certiorarified mandamus calling for the records of the impugned communication vide BR/PAN/OTS/2023-24 dated 27.03.2024 issued by the respondent and quash the same and consequently direct the respondent to provide an opportunity to the petitioner in pursuance of the conditions of the OTS itself to pay the outstanding amount in along with any interest required on or before 30.6.2024.
For the Petitioners : Mr.Naveen Kumar Murthy for M/s.S.Varsha For the Respondent : Mr.Anil Relwani
ORDER
(Order of the court was made by the Hon'ble Chief Justice) Heard Mr.Naveen Kumar Murthy, learned counsel appearing on behalf of M/s.S.Varsha, learned counsel for the petitioners and Mr.Anil Relwani, learned counsel for the respondent.
2. The petitioners have committed default in payment of the One-Time Settlement (OTS) amount.
3. Learned counsel for the petitioners submits that there is a clause for condonation of delay in payment of the OTS amount subject to payment of interest for the delayed period.
4. Learned counsel for the respondent bank submits that the bank has not accepted the request of the petitioners.
5. Be that as it may, it is for the petitioners to approach the bank. The sanctioning authority has to consider whether to condone the delay in payment of the OTS amount.
6. The writ petition, accordingly, is disposed of. There shall be no order as to costs. Consequently, W.M.P.Nos.10343 and 10344 of 2024 are closed. W.M.P.No.10341 of 2024 filed to
permit the petitioners to file a single writ petition is allowed and disposed of, inasmuch as the petitioners have paid separate court-fee.
(S.V.G., CJ.) (J.S.N.P., J.) 22.04.2024 Index :
Yes/No :
Yes/No bbr To The Branch Head, Central Bank of India, Panruti Branch, 610, Cuddalore Main Road, Panruti, Cuddalore-607 106.
THE HON'BLE CHIEF JUSTICE AND J.SATHYA NARAYANA PRASAD,J.
bbr 22.04.2024